The Personal Property Securities Act 2009 (Cth) (PPSA) commenced
on 30 January 2012 and established a new regime for the
registration and enforcement of security interests in personal
property. Personal property includes most forms of property other
than land, and includes both tangible and intangible property.
A security interest is an interest in personal property created
by a transaction that, in substance, secures payment or performance
of an obligation (without regard to the form of the transaction or
the identity of the person who has title to the property). Security
interests include charges and mortgages, hire purchase agreements
and certain leases of goods. A security interest can be registered
on the Personal Property Securities Register (PPS Register), which
is the national security interest register established under the
PPSA.
